ICAS sets up group on non-audit issue

An ICAS-led working group, comprising representatives from business, the investment community and accountancy, has been set up to consider the issues around firms providing non-audit services to their listed company clients. This follows a recent report from the Treasury Select Committee calling for a ban on the practice, and a consultation paper from the Auditing Practices Board (APB). The ICAS group, to be chaired by Ian Paterson Brown, finance and operations director of Ignis Asset Management and convenor of the ICAS Ethics Committee, aims to bring forward recommendations in time for the 2009 reporting season. Paterson Brown said: 'I believe that this group can enhance the work carried out by the APB in their consultation document, by bringing forward evidence-based proposals that have the support of a wide stakeholder community. 'We look forward to discussing these proposals with the Financial Reporting Council and the Treasury Select Committee.'
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